Advanced Macroeconomics

Advanced Microeconomics

Topics, reflecting the current state of the field, may include: consumer theory; producer theory; decision making under risk and uncertainty; incentives and strategic behaviour; market equilibrium; general equilibrium; welfare economics.

Behavioural Finance and Economics

Topics covered will depend on the current nature of the discipline, but are likely to include: the Efficient market hypothesis; anomalies in financial markets; limits to arbitrage; prospect theory and frame dependence; cognitive heuristics and biases.

Development Economics

The module covers the economics and policies of development. Topics will be drawn primarily from the following: poverty and inequality; economic growth; international trade and development; foreign direct investment and growth; micro finance; finance and emerging markets; health and education policy; foreign aid; political economy of development; economics of population.

Experimental Economics and Finance

behavioural approach in economics and finance; markets or auctions; economic behaviour in markets; bargaining; auctions; game theory; public choice; choice under uncertainty and choice over time.

Financial Modelling and Business Forecasting

The statistical properties of univariate time series models and their application in Finance; Models of nonstationary time series; Cointegration and error-correction model; Cointegration in multivariate systems; Modelling volatility; Future topics on ARCH; Forecasting in financial econometrics.

Game Theory

The module covers game theory and its economic applications. Topics will be drawn primarily from the following: Nash equilibrium and refinements; games of perfect and incomplete information; auctions; bargaining; mechanism design; dynamic games; differential games; cooperative game theory.

Industrial Organisation

The module focuses on market structures, strategic interaction between firms, and competition policy, in particular regulation. Topics will be drawn primarily from the following: imperfect competition; monopolistic competition; oligopoly; contestable markets and barriers to entry; technology and innovation; government regulation and competition policy.

Public Choice

Public Economics

theoretical and practical issues in taxation and public expenditure; second-best problems regarding taxation and public expenditure, and their applications; political economy aspects of public economics, including the effects of government policy on, eg. economic performance, distribution and welfare; the normative theory of government policy, eg. evaluation of tax systems on the basis of efficiency, redistribution, and correction of market imperfections.